Report Code: A16768 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Undercarriage Systems Market
Request Now !An undercarriage is the supporting framework underneath heavy construction vehicles. Construction equipment such as excavators and dozers is equipped with these undercarriage systems to provide work efficiency and durability.
These undercarriages easily shed materials such as sand, mud, and dirt to reduce vibrations. They improve operator comfort, reduce track wear, and increase equipment life. Components of undercarriage include track chains, idlers, track shoes, drive sprockets, carrier rollers, and rollers. These are increasingly being utilized on construction projects to excavate soil and remove rocks & sand. The undercarriage consists of a number of simple components that work together to assist the machine to move across a variety of terrain.
Market Scope and Structure Analysis
Description
The undercarriage systems market is segmented by type and application. By type, the market includes rubber track and steel track. Rubber track is less costly as compared to steel track and is widely adopted in construction and agriculture sectors. Rubber tracks are manufactured by combining one or more highly prepared layers of synthetic rubber or elastic natural rubber with additional elements such as silica fillers, chemical additives, and carbon black for particular performance requirements based on various applications. Rubber tracks in agricultural machinery are in great demand due to factors such as strong performance and lower noise production. On the contrary, steel track is highly tensile and has an ability to perform in extreme condition and environment. Steel undercarriage is extremely durable, corrosion-resistant, and easily recyclable. As a result, such factors are boosting the steel undercarriage segment in the projected period.Â
COVID-19 Impact analysis
Top Impacting Factors
Increase in manufacturing of heavy equipment in the construction and mining industries influences demand for undercarriage systems. Furthermore, governments and private sectors throughout the world are making huge investments in the construction of new residential & commercial buildings and public infrastructure, consequently encouraging the expansion of construction industry. As a result, such factors are anticipated to eventually lead to increase in the demand for heavy equipment and undercarriage components.
Furthermore, constant technological innovation in heavy equipment is offering job efficiency on construction sites. Users and companies can get benefits from the development of a real-time-enabled Internet of Things (IoT) which helps them to track the status of their equipment at all times. In addition, leading construction equipment manufacturers such as Caterpillar and Komatsu are putting a strong emphasis on improving current technology and investing heavily in research and development to strengthen their market position. This is expected to boost the sales of such heavy construction equipment and fuel the undercarriage systems market growth.
Key Benefits of the Report
Undercarriage Systems Market Report Highlights
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